E-Paper
McDonald's new plan for US: $5 value meal that 'customers really need'
This comes as McDonald's executives reported slower growth in foot traffic at its restaurants after the fast-food chain hiked prices.
McDonald's is planning to launch a $5 meal promo as it attempts to bring back customers following a recent price hikes to its menu in the US. The limited-time offer will begin on June 25 and will last about a month, CBS News reported citing people in the know. The meal will include a choice of either a McChicken, a McDouble or four-piece chicken nuggets as well as fries and a drink, as per the report.
Read more: Warren Buffett reveals the mystery company he’s invested billions in: What we know
McDonald's USA said, “We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. That's been true since our very beginning and never more important than it is today.”
This was first reported by Bloomberg as McDonald's required approval from franchise owners. Palmaccio and other franchise owners gave the new promotion their consent this week, it was reported.
Read more: Is OpenAI using Youtube to train AI? Sundar Pichai says will ‘sort out’ issue
McDonald's franchise owner John Palmaccio said as per Bloomberg, “Great value and affordability have always been a hallmark of McDonald's brand, and all three legs of the stool are coming together to deliver that at a time when our customers really need it.”
This comes as McDonald's executives reported slower growth in foot traffic at its restaurants after the fast-food chain hiked prices. Other US chains have boosted menu item prices citing rising labor costs and costs of food as the key factors.
Read more: Tesla layoffs: Elon Musk is now rehiring this team that he fired weeks ago
McDonald's CEO Chris Kempczinski earlier said his company has to be "laser-focused" on keeping prices affordable to convince customers to return. He said, "Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry. It's imperative that we continue to keep affordability at the forefront for our customers."
